(Beaver Dam) The Beaver Dam Common Council adopted the 2021 budget Monday night with one dissenting vote. The 17.2-million-dollar document includes a tax levy of $ $11.27-million dollars, up around $400-thousand dollars from the $10.87-million dollars levied in the previous budget. The biggest impact on the levy was approval of a referendum earlier this month to fund six new firefighter-paramedics. The mill rate for next year is $9.46-per-one-thousand-dollars of assessed value, down from the $9.58 adopted last year. If the referendum had not been approved, the mill rate would have been $9.09. Equalized property values increased in Beaver Dam by six-percent (6%) -or $71.9-million dollars- to just over $1.3-billion dollars ($1,305,728,100).
The budget qualifies for the state’s Expenditure Restraint Program, which financially rewards municipalities that keep their spending in check. Because qualifying for the ERP is based on the previous year’s numbers, the impact of the referendum will not be realized until the 2022 budget. However, with the referendum’s approval, the city will not qualify for the ERP in the 2022 budget because expenses will exceed the allowable increase. Eligibility will resume 2023, as the increase in expenses from the new hiring’s will be absorbed into city operations.